A CFOs future in the CEO seat
Chief Executive Officer of TDI Infrastructure Limited, India Arun
Anand, will address the ‘CFO’s forum’ on the topic ‘From a CFO to a CEO’
at a breakfast meeting arranged by the Chartered Institute of Management
Today it is increasingly becoming common for CFOs to ascend to the
higher ranks of CEO position. According to global research by Spencer
Stuart recruiter E. Peter McLean in the USA, 20 percent of the CEOs
appointed in 2000 spent time in the finance ranks. It now therefore
shows that more CFO’s are included in CEO searches than they were
previously and more often than not they have been able to beat out their
non-finance rivals to the top seat.
The reasons for this are compelling. Over the past decade, finance
executives have been demanded to be involved in presenting strategic
interpretation to numbers. As a result they have been given operations
oversight; macro and micro economic perspective and taken a broader view
of the organisation, and have worked more intimately with the CEO. CFOs
penetrate all facets of a business, which is critical to understanding
what levers to push as CEO.
CFO’s who transform into CEO’s, even faced with today’s tough
economic environment, would arguably possess the essential skills and
the right mindset to sail the organisation in the right direction by
taking a futuristic view of the balance sheet. The CEO’s who evolve from
the poison of CFO’s have wider perspective of the businesses, through
complexities and challenges to sustain the progress of their
In this backdrop hiring finance types with a management orientation
as Chief Executives will be the future trend. With governance and social
responsibility now becoming a factor of production in the international
market the stakeholders including regulators demand for quality
office-keeping, compliance, and disclosure of corporate performances.
Finance expertise thus goes beyond numbers of the past and projects
the ability to forecast the future which is a much sought after skill in
corporate boardrooms. This leads to an emerging trend in organisations
searching for the finance specialists with management orientation to
share greater number of seats in board rooms. This undoubtedly is one
reason for the emerging trend of CFO’s turned CEO’s.
The Chartered Institute of Management Accountants (CIMA) is a
forerunner internationally in developing CFO’s with attitude and
aspirations to look beyond the ‘bean-counters’ to reach the top.
CIMA spends a lot of time and effort through their course work and
training to shape up their professionals to grasp broader strategic
management skills reaching beyond pure finance management and compliance
skills. They are groomed to look beyond the financial performance of
organisations and see through corporate big-picture not withstanding the
focus and emphasis on financial management.
They are able to synthesise well with all key corporate
functionalities and empathise with the strategic needs of the
organisation. CIMAs’ are trained to go beyond the traditional accounting
to sort problems relying on numbers alone rather taking organisation’s
qualitative and emotional aspects well into account.
This gives CIMAs’ skill to manage both financial and qualitative
balance sheets of the organisations, which invariably is good part of
the role that a corporate CEO is expected to play.
CIMAs’, therefore, can successfully penetrate all facets of business
with relative ease to acquire a wider and clearer operations oversight
as well as a broader view of the organisation making them well-equipped
to transcend from the CFO position to that of the CEO. They carry the
right balance of finance and strategic management skills for ascending
to corporate chiefs.
CIMA-CFOs turned CEOs have been able to switch gears with relative
ease mainly because they have the right technical skills whilst being
able to appreciate the commercial and emotional aspects of the business.
In addition to this they are also the ones who want to move on
quickly without spending too much time in finance ranks alone. The CIMA
qualification therefore has gone much further than the mere number
crunching profession and transcended into roles that concentrates
greater power, authority and decision making.
Sanath Trillium Residencies brand ambassador
A reception was held at Trillium Residencies on September 7 to
felicitate their Brand Ambassador Sanath Jayasuriya and to welcome him
to Trillium Residencies.
Trillium is a marvel in planning and eco-friendliness, with over half
the entire area dedicated to wide open spaces and lush green foliage.
Redefining the concept of luxury living. Trillium provides some superb
recreational facilities - a fine swimming pool, a club house,
well-equipped gym, a badminton court and jogging track, a rooftop garden
and a beautiful park for kids. Trillium assures its residents total
security and peace of mind. There is a split-level parking area and
every other amenity necessary for convenient living, such as a day care
centre, convenience store/mini market and laundry collection centre.
Trillium is located on Elvitigala Mawatha in close proximity to the
British School and other international schools as well as medical
facilities of Asiri and Apollo Hospitals.
Trillium is flagship project of Ceylinco Condominiums Ltd, subsidiary
of the reputed Ceylinco Housing and Real Estate Company Ltd, which has
been in the forefront of the construction industry for almost 25 years.
The project was designed by the award winning architects of Design
Consortium Ltd and is being constructed by Sanken Lanka.
LG Scarlet LCD TV introduced by Abans
Abans recently launched the unique LG Scarlet, the sophisticated and
classy 2008 LCD TV, which transforms sheer design and innovative
technology into a revolution in home entertainment. The LG Scarlet is
not merely a top of the range, feature-packed LCD, it is an elegant
fashion icon to adorn your home.
The LG Scarlet adds revolutionary beauty to the LG LCD TV range. The
striking scarlet colour of the elegant cabinet will uniquely decorate
your home and reflect your outstanding sense of style and the changing
colours of power LED will infuse a more futuristic lifestyle.
The absence of the traditional speaker grills project a sleek and
impressive design and also enables you to enjoy a deeper and broader
LG Scarlet LCD TV’s are available in 32” and 42” screen size from all
Abans Showrooms islandwide.
They come with the Abans guarantee of quality with quick and
efficient after-sales-service. Abans also offer attractive interest-free
instalment terms to make the products extremely affordable.
Training in presentation skills
Good communication skills alone do not equip an individual to make
effective presentations. To project the information in a clear, crisp,
coherent manner and linking that information to the power point
presentation is crucial for effective presentation.
BConnected (Pvt) Ltd offers another opportunity to enhance your
Presentation skills with an excellent ‘hands on’ session.
Trainees will get an opportunity to put theory into practice at a one
day training programme conducted by expert trainer, Dila Hettiaratchy on
Thursday, September 25 at Hotel Galadari from 8.30 a.m. to 5.30 p.m.
This training will also provide participants an opportunity to do
evaluations, heighten their awareness on focusing on detail, which will
eventually make the difference to an effective presentation.
Handing stage fright, structuring content, profiling the audience to
capture their interest are some of the significant areas that will be